Supplemental Security Income (SSI) recipients in the US will shortly get their December payout. However, Black Friday is when the cheque or direct deposit will arrive. Stated otherwise, November 29, 2024. Two days early, as you would have previously predicted. Since December 1st falls on a Sunday, there won’t be any compensation on that day.
Social Security and SSI benefits are not disbursed on Saturdays or Sundays. Keep in mind that all banks, offices, and other financial institutions will be closed. Therefore, on November 29, the final working day prior, SSA must send the direct deposits.
SSI payment scheduled for late December
In addition to receiving their December payment early, SSI recipients will also receive a January check or direct transfer. The check will be due on December 31 rather than January 1 due to this significant change in the Supplemental Security Income payment schedule.
January 1st does not fall on a Saturday this time. However, many Americans will be celebrating the New Year on this federal holiday. The fact that this is the first SSI payment under the newCOLA is intriguing.
This will result in a 2.5% increase in Supplemental Security Income payments. It may not seem like much, but if your salary is extremely low and you are unable to pay your bills, you will need it.
SSI payment amounts for January and December
The maximum amount of Supplemental Security Income that will be disbursed on December 31, 2023, is $967. The price will only increase to $943 on November 29, 2024. This is a person’s largest deposit or check.
If both spouses qualify for the maximum amount of money, a married couple may get up to $1,450 on December 31, 2024. However, the November 29 SSI payout will still be up to $1,415 in total.
Remember that you will receive $2.50 for every $100 you receive from this federal benefit. This implies that if you receive a $200 check or deposit in 2024, you will receive an additional $5.
See Also: How likely are Trump’s two stimulus checks?
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